Tuesday, April 30, 2013

NAI Realvest negotiates new lease for 12,000 square feet of industrial space in Orlando, FL

ORLANDO, FL. – NAI Realvest recently negotiated a new lease for 12,160 square feet of industrial space at 8350 Parkline Blvd. off Orange Avenue and McCoy Road in South Orlando. 

Michael Heidrich 
 Michael Heidrich, a principal at NAI Realvest, negotiated the transaction on behalf of the landlord Parkline Properties, LLC of Columbus, Ohio. 

 The tenant New World Van Lines, Inc. based in Chicago was represented by David Murphy of CBRE.

For a complete copy of the company’s news release, please contact

Michael Heidrich, Principal NAI Realvest, 407-875-9989 mheidrich@realvest.com
Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com
Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

NAI Realvest negotiates sale of industrial building and acre of land on CR 419 in Winter Springs, FL to Lake Doctors


Orlando, FL -- NAI Realvest recently negotiated the sale of  the 12,300 square foot Lancer Building on 1.08 acres located at 3553 County Road 419 in Winter Springs. 

Paul Partyka
Paul P. Partyka, principal and managing partner at NAI Realvest, who represented the seller R E Owen & Associates of Oviedo, said the industrial property was purchased for $650,000 by JLW Lake Doctors, Inc. who currently own and occupy the adjacent building at 3523 CR 419. 

 “Lake Doctors is expanding and this purchase more than doubles their operations,” said Partyka.  

Lake Doctors provides aquatic care and service to lakes, ponds and custom fountains for golf courses, homeowners associations, commercial and government properties.

Roger Owen of Roger Owen Realty, Inc. represented the buyer in the transaction.

For a complete copy of the company’s news release, please contact

Paul P. Partyka, Managing Partner/Principal NAI Realvest, 407-875-9989, ppartyka@realvest.com;
Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com
Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

Hendricks – Berkadia Negotiates Sale of Autumn Wood Apartments in Hoover, AL for $8.5 Million

BIRMINGHAM, AL-- Hendricks - Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Autumn Wood Apartments, a 206-unit apartment community located in Hoover, Ala., for $8.5 million.

David Oakley, senior vice president of Hendricks – Berkadia’s Alabama office, negotiated the sale representing the buyer, RRE Autumn Wood Holdings, based in Philadelphia. Tom Hinton of Hinton Investments, represented the seller, 1000 Autumnwood LLC, based in New York.

David Oakley
Autumn Wood, built in 1986, has a total of 180,400 square feet of rentable living space with one- and two-bedroom apartments.

For a complete copy of the company’s news release, please contact:

David Oakley, Senior Vice President, Hendricks-Berkadia - Alabama, 205-918-0785, doakley@hpapts.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

Auctions by ATG Becomes a Sponsor of Investing In Communities

          Auctions by ATG will be hosting a commercial auction
          May 31, featuring a 120-acre, 18-hole golf course 
          near Galena, IL

CHICAGO (April 30, 2013) – In an effort to support nonprofits and serve communities, Auctions by ATG pledges to donate, through Investing In Communities (IIC), at least 20 percent of any commission it receives from a property seller to the nonprofit of that seller’s choice.

Diana M. Peterson
 If the seller who brings Auctions by ATG a property to auction wants to participate in an IIC related donation from Auctions by ATG, they can now do so and reap additional, social benefits from working with Auctions by ATG.

 “Becoming a sponsor of IIC allows Auctions by ATG to provide our clients with a socially responsible way of doing business,” said D

Diana M. Peterson, executive vice president of Chicago-based Auctions by ATG. “Giving back to communities is a priority to us as well as many of our clients.  We are excited to now offer our clients a unique opportunity to help us support the causes they care about.

“They get top dollar for their property and at the same time increase their positive social impact, generating goodwill and advancing corporate social responsibility.”

 Auctions by ATG clients will be able to participate in the IIC program beginning with Auctions by ATG’s next commercial real estate auction scheduled for May 31, 2013.

For a complete copy of the company’s news release, please contact:

Mark Thomton,

Trepp April Loss Analysis: Volume and Loss Severity Jump

NEW YORK, NY --After two months of relatively low liquidation volumes, April saw a spike in servicer activity, according to Trepp. 

The number of loans disposed with a loss in April ended up at 128. April's average loss severity came in at 45.80%, 6.2 percentage points higher than March's 39.65%.

April liquidations totaled $1.62 billion, relative to the 12-month moving average of $1.37 billion. The 128 loan liquidations resulted in $742 million in losses, translating to an average loss severity of 45.80%, above the 12-month moving average of 42.38%.

Since January 2010, servicers have been liquidating at an average rate of $1.17 billion per month.

Despite the surge in volume, the average liquidated loan size remained elevated as special servicers continued to handle large loans. The average size of liquidated loans in April was $12.66 million, lower than February's $13.22 million but above the 12-month average of $10.16 million.
  For a complete copy of the company’s news release, please contact:

Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10001
(212) 741-2977

Lodging Econometrics Announces New Strategic Consulting Programs

PORTSMOUTH, NH  - Lodging Econometrics (LE), the lodging industry's leading global partner for real estate intelligence, introduces a new array of cutting-edge programs and analytical products for companies looking to accelerate growth. 

Renowned as a leading provider of lodging expertise, global real estate intelligence, and up-to-date real estate data trends and analytics, the privately-owned firm has also launched a new website that combines dynamic analytical tools, industry support services, and customized business development programs to help the industry’s leading companies create strategic advantage by accelerating their growth and outpacing competitors.

 For a complete copy of the company’s news release, please contact:

Rebecca Evans,
 Director of Marketing Communications,
603.431.8740 x19,

Wyndham Hotel Group Names Kathy Maher SVP, Revenue Management

Kathy Maher
PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with approximately 7,380 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), has appointed industry veteran Kathy Maher to the role of senior vice president, revenue management.

With nearly three decades of experience in hospitality, Maher is responsible for the strategic development of Wyndham Hotel Group’s revenue management function globally. She is based in the company’s Parsippany, N.J., offices and reports directly to Ross Hosking, executive vice president, global sales and revenue management.

“We are very happy to welcome Kathy to our Wyndham Hotel Group family,” said Hosking. “Her extensive experience and leadership will be integral in strengthening Wyndham Hotel Group’s revenue management practices around the world, greatly contributing to our company’s long-term success.”

 For a complete copy of the company’s news release, please contact:

Gabriella Chiera
Marketing Communications Specialist
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ 07054
+1 (973) 753-6590

HFF arranges $6.1 million joint venture equity and $17.8 million financing for multi-housing community in suburban Denver, CO

Village at Coronado, Thornton, CO

IRVINE, CA – HFF announced today that it has arranged $17.79 million in financing and $6.1 million in joint venture equity for the Village at Coronado, a 390-unit multi-housing community in Thornton, Colorado.

David Bleiweiss
                HFF worked on behalf of the borrower, Investors Management Group (“IMG”), to arrange a joint venture equity partnership with KCB Real Estate Management (“KCB”), who contributed $6.1 million in equity. 

Additionally, on behalf of IMG and KCB, HFF secured a $17.8 million, 10-year, 3.85 percent fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  The debt and equity funding will allow IMG to further enhance the property beyond the renovations the previous owner completed from 2007 to 2008. 

Mark Erland
                The Village at Coronado is located at 1769 Coronado Parkway North approximately 10 miles north of Denver in the Adams County submarket.  Situated on 12.59 acres, the 94 percent leased property includes 390 units averaging 709 square feet each.  Community amenities include a fitness center, business center, three swimming pools, dog park and picnic areas.

                The HFF team representing IMG and KCB was led by managing director David Bleiweiss and director Mark Erland from HFF’s Orange County office and director Josh Simon from HFF’s Denver office.

Josh Simon
“The property was already outperforming projections at the close of escrow so with the combination of the new capital improvement plan and low interest, fixed-rate debt that HFF helped secure, this will be a very good investment for all parties involved, producing a strong cash-on-cash return from the start,” said Bleiweiss.

Investors Management Group, Inc. is a private investor firm located in Los Angeles, California.  Established in 1993, IMG specializes in multifamily investments nationwide.  The members of the IMG team have extensive experience in the origination, underwriting, acquisition, management and repositioning of multifamily properties.

KCB Real Estate Management is a boutique real estate fund manager that focuses on the “lower middle market” of assets that are too small for larger institutions to acquire.  Founded in 1986, KCB has a long track record of successful and prudent investing in a value-driven and tax-efficient manner. 

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Stuck In Neutral: Nearly 600 New South Beach Condos Still Unsold As Of Q1


South Beach, FL Night Scene

Peter Zalewski
MIAMI, FL -- For a third consecutive quarter, nearly 600 new condos in the popular South Beach neighborhood of Miami Beach remain unsold from the last South Florida real estate boom-and-bust cycle as sales of developer units transacted at a pace of about two per month in the first quarter of 2013, according to a new report from CondoVultures.com.

Buyers purchased more than five new South Beach condos from developers for a combined $7.7 million between January and March of 2013 as the average price per square foot increased 36 percent to nearly $1,015 compared to less than $750 per square foot in the fourth quarter of 2012, according to an analysis based on Miami-Dade County records.

As of March 31, 2013, the percentage of unsold developer units in the South Beach condo market is stuck at about 11 percent of the nearly 5,600 units created since 2003, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide To South Beach™.

 "Greater Downtown Miami - the epicenter of the South Florida condo crash where more than 22,000 units were built during the last boom - now has about as many unsold developer units as South Beach," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"As developers in South Beach have maintained strong prices, many buyers have opted to compromise in their demands in order to get their deals done.

“Often times, this compromise means buyers are opting for existing units at a lower prices in South Beach or purchasing new developer units in competing markets such as Greater Downtown or Sunny Isles Beach.  

 For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC
225 Midtown Building at
225 NE 34th St.,
Suite 209B,
Downtown Miami, FL 33137.

The Tortoise, Not the Hare: U.S. Office Market Continues Slow but Steady Improvement

Michael Bull

 ATLANTA, GA– Its recovery may not be proceeding at a lightning-quick pace, but the U.S. office real estate market continued to show signs of noticeable improvement in the first quarter.

 That was one of the observations of a panel of experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. The episode provided an enlightening look at the performance of the U.S. office sector in the first quarter.

Topics included vacancy rates, investment sales, the healthiest markets and tenant concessions.

Ryan Severino
 The national vacancy rate for the office sector fell 10 basis points in the first quarter, to 17.0 percent, from its mark at the end of 2012, said Ryan Severino, senior economist for Reis. Both asking and effective rents grew by about .7 percent in the first three months of the year, he added.

 “We’re more the tortoise than the hare here,” Severino said. “We’re kind of slow but steady.”

 The rest of 2013 will produce much of the same, Severino predicted. “I do expect to see continued improvement in the sector, but I don’t really expect to see any acceleration in that rate of improvement.”

Glen Marker
 Although the nation is producing new jobs each month, too few are office-using positions, and that dynamic is preventing the sector’s recovery from attaining a brisker pace, according to Severino.

 Over the next few years, metro areas characterized by “a high concentration of well-educated people and a fairly low cost of doing business should” produce a healthy pace of new jobs, said Glen Marker, a senior market advisor with PPR, a division of CoStar. He cited Nashville, Tenn., and Denver as two such markets.

 Tenants want smaller offices these days, and they often want the spaces they’re considering to be move-in ready, said Andrew Segal, the founder of Boxer Property, which owns office space across the country.

Andrew Segal
 “We’re definitely seeing more open [floorplans],” Segal said. “There’s also a trend of adopting some of the looks from California. People are less interested in ceiling tiles and carpet and more interested in exposed ductwork and concrete floors.”

 As for investment opportunities, the amount of distressed properties available for relatively low prices is beginning to decline, said David Wheeler, executive vice president of acquisitions for Hartman Income REIT.

David Wheeler
 “We did see a fair amount of distressed sales over the last two to three years, but that is dwindling, slowly but surely,” Wheeler said. “We do expect that to continue to play out with the level of CMBS loans coming up for expiration over the next couple of years … It’s going to dwindle, but it will still be in the market for another couple of years.”

 The entire episode on the U.S. office market is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available May 2 and will examine the U.S. retail market.

 For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
Office: (404) 965-5026
Cell: (404) 405-2354

Lincoln Property Company Southeast Brokers TechSource’s 12,924-Square-Foot Lease at Northlake Business Park in Metro Orlando, FL


                               Northlake Business Park, Altamonte Springs, FL

 ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered TechSource Inc.’s lease renewal and expansion at Northlake Business Park in Altamonte Springs, Fla.

Robert Kellogg
The firm, which provides computer graphics hardware to the air-traffic-control and defense markets, signed a seven-year renewal and will now occupy 12,924 square feet at Northlake. The firm previously occupied 9,000 square feet at the business park.

Robert Kellogg, vice president of office leasing for Lincoln, represented the landlord in the transaction. Matthew McKeever of Cushman and Wakefield represented the tenant.

Matthew McKeever
Northlake Business Park is a 270,000-square-foot, campus-style office park. The park is located near Interstate 4, and features four parking spaces per 1,000 square feet, exterior tenant signage and 24-hour access.

 “TechSource’s renewal and expansion strengthens the already strong Northlake Business Park and provides more evidence of improving economic conditions in central Florida,” said Scott Stahley, a Lincoln senior vice president who manages the Orlando office.

 “We look forward to capitalizing on those improving conditions to continue to drive value at Northlake and our office properties throughout the metro Orlando area.”

 For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group


Marcus & Millichap Sells 109-Room Hampton Inn & Suites in Ocala, FL for $5.8 Million


Hampton Inn & Suites, Ocala, FL

 OCALA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Hampton Inn & Suites, a 109-room hotel located in Ocala, FL. The asset commanded a sales price of $5,800,000 representing $53,211 per room.

Ahmed Kabani, Senior Associate and an Associate Director with Marcus & Millichap’s National Hospitality Group, and Jonathan Gerszberg, Associate, both from Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a Miami bank/financial institution. 

“The asset generated immediate investment interest because of its newer construction (2008), excellent visibility from I-75 and close proximity to golf courses and state parks.  The buyer had to compete against 10 other offers, and ultimately closed with a hard day one offer,” says Kabani.

The buyer, a limited liability company from Michigan, was secured and represented by David M. Greenberg, Vice President Investments and Senior Director of Marcus & Millichap’s National Hospitality Group from the firm’s Ft. Lauderdale office.

Ahmed Kabani
“This acquisition is an excellent, strategic and significantly below replacement cost deal with plenty of upside.  This is the first time this buyer has owned a hotel in Florida.  Based on Florida’s positive hotel operating trends and diverse mix of corporate and leisure business generators, Florida is back on out-of-area investors’ radar screens.  We expect 2013 to be a record year for hotel transactions,” says Greenberg.

Hampton Inn & Suites is a 109-room hotel located directly off Interstate 75 on Highway 484 and just minutes from Ocala's Florida Horse Park.  Large trailer parking is available for guests, making the hotel ideal for those visiting the Park. There are also several championship golf courses within 10 minutes of the property. Hampton Inn & Suites is located at 2075 Southwest Highway 484 in Ocala, FL.

For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President/Regional Manager,
 Miami, FL
(786) 522-7000

Chatham Lodging Trust Locks in Attractive Financing; Proceeds Free Up Capacity on Company’s Line of Credit for Acquisitions

Dennis M. Craven

 PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) that owns wholly or through its joint venture approximately $1.5 billion of premium-branded, upscale, extended-stay and select-service hotels, announced that it has closed on a $20.0 million fixed-rate, first mortgage loan.

 The 10-year loan, which is secured by the 197-room Courtyard by Marriott Houston Medical Center hotel, was provided by Barclays Bank, plc.  The loan carries a fixed interest rate of 4.18 percent per annum, with principal and interest based on a 30-year amortization. 

Courtyard by Marriott Houston Medical Center
Proceeds from the loan will be used to repay outstanding borrowings under the company’s secured revolving credit facility.  The company now has $40 million available under its $115 million revolving credit facility.

“With long-term borrowing rates at historically low levels, we seek to take advantage of these market conditions using reasonable leverage to fund acquisitions, which enables us to lock in solid, long-term returns for our shareholders,” said Dennis Craven, Chatham’s chief financial officer.

 “This financing gives us considerable flexibility to respond quickly and opportunistically to acquisition opportunities.  It also further reduces the weighted average rate on our fixed-rate debt to a very attractive 5.05 percent and extends the weighted average maturity on our fixed-rate debt to 2021.”

For a complete copy of the company’s news release, please contact:

Dennis Craven (Company)
Chief Financial Officer                                                           
(561) 227-1386                                                                      

Jerry Daly or Chris Daly
Daly Gray (Media)
 (703) 435-6293

Greystone Originates Bridge Loans Totaling $28 Million for Two Senior Apartment Communities in New York and Georgia

Betsy Vartanian

New York, NY  – Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that it has provided a total of $28 million in bridge loan financing to United Group of Companies Inc., for two market rate senior apartment communities located in New York and Georgia.

The loans were originated by Donny Rosenberg, a Managing Director in Greystone’s multifamily lending group, in conjunction with Steve Germano, Managing Director of Greystone’s Portfolio Lending Group.

Michael Uccellini
 Schuyler Commons in New York and The Lodge at BridgeMill in Georgia received $28 million of loan proceeds through Greystone’s bridge loan program.

Both properties received attractive terms with a new maturity allowing the borrower to execute their business plan.

 “The United Group had a beneficial experience working with Greystone to close a complicated financial restructuring,” said Michael Uccellini, President and CEO of United Group.

 “The talented and professional Greystone team was responsive, accommodating and brought great value in closing the financing transaction we required. This valued business relationship is strongly recommended to the development community and will certainly be utilized in the future, as we have other financing opportunities identified.”

                                  Schuyler Commons, New York

Greystone’s extensive bridge financing experience enabled the team to work through the complexities of age-restricted housing quickly, and successfully close the loans for the two properties. The loan proceeds were used to refinance existing debt. Greystone will work with United Group of Companies to provide long-term financing prior to the maturity of the bridge loan.

The Lodge at BridgeMill
Canton, GA
 “Borrowers facing impending loan maturity continue to look to Greystone for their bridge financing needs,” said Betsy Vartanian, Head of Greystone’s FHA business.

“Our clients often need to retire existing debt obligations quickly to avoid pending loan maturity but also want to secure long term financing with favorable loan terms.

“Greystone is able to offer bridge financing quickly while simultaneously structuring the optimal long term financing solution that best addresses the borrower’s needs and objectives. 

"Our creativity and ability to move quickly coupled with our proven success in delivering permanent financing, often FHA insured, allow us to provide clients with the best possible interim solution as they plan their permanent capital structure over a lengthier period of time.”

 For a complete copy of the company’s news release, please contact:

Loretta Mock/Jessica Kleinman
+1 646 395 6300

Post Properties Announces First Quarter 2013 Earnings

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced net income available to common shareholders of $19.4 million, or $0.35 per diluted share, for the first quarter of 2013, compared to $20.9 million, or $0.39 per diluted share, for the first quarter of 2012.

The Company’s net income available to common shareholders for the first quarter of 2012 included a gain of $6.1 million, or $0.11 per diluted share, on the sale of an asset.

For a complete copy of the company’s news release, please contact:

Post Properties, Inc.
Chris Papa, 404-846-5028

Marcus & Millichap Capital Corp. Arranges $5.7 Million 100 Percent Cash-Out Multifamily Refinance in Nashville, TN

                                      184-Unit Apartment Community in Nashville, TN
NASHVILLE, TN– Marcus & Millichap Capital Corporation (MMCC) has arranged $5,687,000 in debt for a 184-unit multifamily community in Nashville.

John Banas
Kristopher Wood and John Banas, both directors in MMCC’s Philadelphia office, arranged the loan.

“The challenge in this transaction was finding an agency lender willing to provide a cash-out refinance on an asset that had been purchased as a distressed property in 2011,” says Wood. “Our borrowers were interested in fixed-rate debt, as the operations and property improvements are complete. The 100 percent cash-out was to repay investors and stabilize cash flow for a long-term hold,” adds Wood.

Kristopher Wood
“Through our long-term lender relationships, we were able to deliver loan terms that were significantly better than market, exactly what our client was looking for,” Banas concludes.

The 10-year loan amortizes over 30 years at 4.02 percent. The LTV is 75 percent.

For a complete copy of the company’s news release, please contact:

Ben Johnson,
Marketing Director
(925) 953-1736

240-Unit Multifamily Property in Austin, TX Sold by Marcus & Millichap

Austin Commons, North Central Austin, TX

AUSTIN, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Austin Commons, a 240-unit apartment complex in north central Austin. The terms of the sale were not disclosed.

Joe James
            Joe James and Kent Myers, senior associates in Marcus & Millichap’s Austin office, represented the seller, a California-based partnership. The buyer is a California-based investor. 

            “Investor demand for apartments in Austin remains high as the city holds its position as a job creation leader,” says James.  “Austin Commons received a great deal of interest from a variety of investors, including REITs and out-of-state private buyers.”

Kent Myers
“The property is well positioned to provide the new owner with excellent value appreciation, future rent growth and long-term stability,” adds Myers. “Austin’s thriving high-tech sector, along with its expanding healthcare industry and swelling development pipeline, all point to another strong year for renter-household formation.”

The property is located at 1630 Rutland Drive near Texas State Highway Loop 1 and the U.S. Highway 183/Interstate 35 interchange.

Austin Commons was built in 1971 on 12.4 acres. The unit mix ranges from 595-square foot one-bedroom/one bath units to 1,041-square foot three-bedroom/two-bath units.

Shared amenities include controlled-entry access gates, two swimming pools, clubhouse, business center, fitness center, picnic areas and on-site laundry facilities.
For a complete copy of the company’s news release, please contact:

Ben Johnson,
Marketing Director
(925) 953-1736

Joohyn ‘Dennis’ Bahn Joins Marcus & Millichap Capital Corp. as Director in New York

Joohyun (Dennis) Bahn

 NEW YORK, NY – Marcus & Millichap Capital Corporation (MMCC) has named Joohyun “Dennis” Bahn as a director in the firm’s Manhattan’s office, according to William E. Hughes, senior vice president and managing director of MMCC.

            In his new position, Bahn will arrange debt financing for all types of commercial real estate assets, including multifamily, retail, and office and industrial properties.

“Dennis has a strong background in finance and financial structuring,” says Hughes. “His experience will be of great value to our clients in New York and throughout the Tri-State Area.”

William E. Hughes
            Prior to joining MMCC, Bahn co-founded and was the managing partner for Artistic Cube Inc. and The Ground magazine and social networking site in New York. He was also a co-founder and managing partner of BCB Realty Capital in Manhattan and a senior vice president with Kensington Financial Services in Garden City, New York.

            Bahn graduated from City University of New York, Baruch College’s Zicklin School of Business, where he earned a Bachelor of Business Administration in finance.

For a complete copy of the company’s news release, please contact:

Ben Johnson,
Marketing Director
(925) 953-1736

Friday, April 26, 2013

Lincoln Property Company Southeast Brokers Saltmarsh, Cleaveland & Gund’s Lease of 3,200 SFt in Orlando’s Baldwin Park


Baldwin Park Building III, Orlando, FL

ORLANDO, FL (April 26, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered the accounting firm Saltmarsh, Cleaveland & Gund’s new lease of 3,200 square feet in Baldwin Park Building III in Orlando. The lease brings the Class-A building’s occupancy rate to 100 percent.

Jay Dixon
 Jay Dixon, vice president, office, for Lincoln represented the landlord in the transaction, and John Gay of Cresa represented the tenant.

 The three-story, 45,000-square-foot Building III is located at 4798 New Broad Street in the Baldwin Park Village Center, the business and retail center of the Baldwin Park neighborhood. The site is within walking distance of many restaurants and is just three miles from downtown Orlando.

Scott Stahley
“We are pleased to be able to secure such an outstanding tenant for this outstanding property,” said Scott Stahley, senior vice president for Lincoln.

 “Jay has done a great job in bringing this building to full occupancy, and we are excited about the opportunity to use our expertise and experience in a recovering office market to continue to create excellent value for all of our office landlords.”
For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group